Cengage is an educationaw content, technowogy, and services company for de higher education, K-12, professionaw, and wibrary markets worwdwide. Cengage has operations in more dan 20 countries around de worwd.[2][3][4]

Contents

The company is headqwartered in Boston, Massachusetts, and has approximatewy 5,000 empwoyees worwdwide across 20 countries.[citation needed] It was headqwartered at its Stamford, Connecticut, office untiw Apriw 2014.

Gawe is Cengage's wibrary reference arm and speciawizes in e-research and educationaw pubwishing for wibraries, schoows and businesses. The company creates and maintains databases dat are pubwished onwine, in print, as e-books and in microform.[5]

Cengage Learning, formerwy Thomson Learning, which owned de Wadsworf Pubwishing imprint, was created out of a restructuring of Internationaw Thomson Pubwishing. It was announced on October 25, 2006, dat Thomson Learning wouwd be offered for sawe by de Thomson Corporation, wif an estimated vawue of up to US$5 biwwion, uh-hah-hah-hah.[6][7] The company was bought by a private eqwity consortium consisting of Apax Partners and OMERS Capitaw Partners for US$7.75 biwwion, and de name was changed to Cengage Learning on 24 Juwy 2007.[8] In 2011, Cengage Learning acqwired de Nationaw Geographic Society's schoow pubwishing unit and combined dis schoow business wif de Gwobaw ELT business to create and waunch de Nationaw Geographic Learning brand. The gwobaw brand combined de former Cengage Learning ELT and Nationaw Geographic Schoow Pubwishing imprints and sub-brands, under one unified identity.[9]

In September 2013 David Shaffer retired from his rowe of chairman of de company,[10] Shaffer had previouswy been executive vice president of The Thomson Corporation from 2005 to 2006, and den President and CEO of bof Thomson Pubwishing Internationaw and Thomson Learning.[11] The company had acqwired a warge amount of debt drough de course of its initiaw buyout and subseqwent acqwisitions, and seen decwining revenue drough a shrinking market for paper text books. Cengage Learning fiwed for bankruptcy under Chapter 11 on Juwy 2, 2013.[8][12] Cengage Learning emerged from bankruptcy on Apriw 1, 2014, ewiminating approximatewy $4 biwwion of its funded debt and securing $1.75 biwwion in exit financing. Post bankruptcy, de company decided to focus on devewoping digitaw study guides and oder educationaw suppwements, as weww as hard-copy text books. In January 2015 dey announced expansion of deir LearnLaunch Accewerator program, which provides seed funding and intensive coaching to promising startups, to de University of Chihuahua in Mexico.[13][14]

In November 2016, Cengage Learning rebranded as simpwy Cengage and rowwed out a new branding scheme dat highwights its student-centered approach.

In 2016, based on its 2015 revenues, Pubwishers Weekwy ranked de company at number 14 out of 57 pubwishers worwdwide, a decwine of dree swots from de previous year. The wist incwudes bof trade and educationaw pubwishers.[21]